Brainy Insights launched a study titled Zero Trust Security Market Size by Deployment (Cloud, and On-Premises), Solution Type (API Security, Endpoint Security, Security Policy Management, Security Analytics, and Data Security), Organization Size, Regions, Global Industry Report, Share, Growth, Trends, and Forecast 2022 to 2030.
The global zero trust security market size is projected to grow from 23.23 billion in 2021 to USD 99.17 billion by 2030, at a CAGR of 17.50% during the forecast period 2022-2030. Zero trust is pushed by the principle of never relying on anything internal or external to the organization’s security perimeter. With zero trust, the security team establishes procedures to confirm every connection attempt and device and intelligently restrict access. Every access request is significantly authenticated in a zero trust framework, approved within policy conditions, and checked for abnormalities before permitting access. Everything from the user’s identity to the application’s hosting environment is utilized to stop a breach.
The on-premises segment of the zero trust security market dominated the market, accounting for around 12.54 billion in global revenue in 2021.
The deployment segment of the zero trust security market is divided into cloud and on-premises. The on-premises segment dominated the market, accounting for around 12.54 billion in global revenue in 2021 due to an increased preference for on-premises deployment. Organizations prefer to keep private data in-house rather than be sent to a cloud provider.
The endpoint security segment dominated the market, accounting for around 6.03 billion in global revenue in 2021.
The solution type segment of the zero trust security market is divided into API security, endpoint security, security policy management, security analytics, and data security. The endpoint security segment dominated the market, accounting for around 6.03 billion in global revenue in 2021.
The large enterprise segment dominated the market, accounting for around 14.40 billion in global revenue in 2021.
The organization size segment is divided into large enterprises and SMEs. The large enterprise segment dominated the market, accounting for around 14.40 billion in global revenue in 2021. Companies that rely on only adherence and assigning authorized users are at a more increased threat of an internal breach. The law-abiding network does not deliver a secure environment, and the risk of a violation is external and internal trusted sources. Therefore, the zero-trust security model considers large enterprise-authorized users with zero trust and provides remote permits.
Regional Segmentation Analysis:
The market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America is expected to be the largest market during the forecast period. Due to the increasing government and public spending on safety, market development is raising the demand for innovative solutions of zero trust security models. The growing adoption of artificial intelligence (AI), the Internet of things (IoT), and digital technology by small-medium enterprises and large enterprises and the surging severity in standards and guidelines for maintaining data privacy and safety mainly contribute to regional market development.
The major players in the market include Akamai Technologies Inc., Blackberry Limited, Broadcom Inc. (Symantec Corporation), Centrify Corporation, Check Point Software Technologies Ltd, Cisco Systems Inc., Cyxtera Technologies Inc., Fortinet Inc., Google Inc., IBM Corporation, Microsoft Corporation, Okta Inc., Palo Alto Networks Inc., Sophos Group PLC, Vmware Inc, among others.